According to FutureWise analysis the market for laboratory ware in 2023 is US$ 7.98 billion, and is expected to reach US$ 12.75 billion by 2031 at a CAGR of 6.02%.
Laboratory ware is defined as equipment made of plastic or glass that is used in laboratories for scientific purposes. The laboratory employs equipment such as volumetric flasks, conical flasks, beakers, vials, pipettes, burettes, measuring cylinders, and test tubes. When performing research, choosing the correct laboratory gear is critical. The glassware has a high degree of clarity, which improves content visibility and allows for precise volume recording. The plasticware is simple to use, inexpensive, and versatile. An increase in demand for plasticware, increased funding and investment from private and government organisations for research activities and diagnostic services, increased prevalence of chronic disease, and an increase in the number of research laboratories are all driving the global laboratory ware market forward. For example, in February 2021, the Government of Telangana and Cytiva, a worldwide life science company, announced plans to expand the biopharma industry in India by building a new 10,000-square-foot fast track facility. The Government of India initiated many efforts and projects in 2019 to develop and encourage research in academic institutions, according to the India Brand Equity Foundation (IBEF). Furthermore, students' increasing interest in innovation for the creation of innovative medicines and research activities has increased the demand for laboratories in academic institutions. In forensic research laboratories, laboratory gear is used for the detection, storage, and analysis of biological samples obtained from crime scenes.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Laboratory Ware Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Laboratory Ware Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.